U.S. Entered a Recession
A Year Ago, NBER Says

By

Rob Curran

Updated Dec. 1, 2008 2:18 p.m. ET

NEW YORK -- The U.S. economy has been in recession for about a year, according to the research organization that tracks economic cycles.

In a statement, the National Bureau of Economic Research said its Business Cycle Dating Committee determined that the U.S. entered recession in December 2007, marking the end of the economic expansion that began in November 2001. That month marked the end of the last recession for the U.S....